TD Asset Management and Strategic Wealth Cut Microsoft Stakes Amid Strong Fundamentals

Major institutional investors trimmed their holdings in Microsoft Corporation during the second quarter, even as the company delivered strong earnings. TD Asset Management Inc reduced its position by 22.9%, selling 2,007,411 shares to hold 6,747,748 shares valued at approximately $2.52 billion. Strategic Wealth Investment Group LLC also cut its stake by 15.8% to 54,215 shares worth $20.22 million. The reductions coincide with Microsoft reporting quarterly revenue of $90.01 billion, up 17.7% year-over-year, and earnings per share of $4.74, which beat consensus expectations. The company also raised its quarterly dividend to $0.98 per share.